German industrial orders increased more than expected in May, supported by large-scale orders, according to official data released on Monday.
The Federal Statistics Office said industrial orders rose by 1.9% from the previous month on a seasonally and calendar-adjusted basis.
Orders Beat Analyst Forecasts
The result came in above market expectations. A Reuters poll of analysts had forecast a 1.5% monthly increase.
The stronger-than-expected figure suggests that demand in Germany’s industrial sector improved during the month, although the broader trend remains mixed.
Large-Scale Orders Boost May Data
Large-scale orders played an important role in the monthly increase.
When these major orders were excluded, new industrial orders still rose by 1.0% compared with the previous month.
Three-Month Trend Remains Softer
The less volatile three-month comparison showed a weaker picture.
New orders from March to May were 0.2% lower than in the previous three-month period. This suggests that Germany’s industrial recovery remains uneven despite the stronger May reading.
April Decline Revised Lower
The data for April was also revised.
New orders fell by 3.2% in April compared with March. This was a smaller decline than the preliminary estimate, which had shown a 3.8% drop.
Overall, the May data points to a better-than-expected rebound in German factory orders, but the wider industrial trend still shows signs of caution.
